Nam Cheong Sells 1 AHTS, 1 PSV for $43.1M

“We have also observed that supply remains tight in some segments such as vessels that are involved in the oil production stage. Hence we expect spending to be sustained or increased, especially in relation to oil production and enhanced oil recovery areas.”

Both these vessels sold are being constructed as part of the Group’s build-to-stock series in the Group’s subcontracted yards in China. They are scheduled for delivery in 2014 and are expected to contribute positively to the Group’s earnings for the financial year ending Dec. 31.

Nam Cheong revealed that the 5,150-brake horse power (bhp) AHTS sold measures 193 feet (59 meters) in length, with bollard pull of 62 tons. The American Bureau of Shipping (ABS) class AHTS is equipped with dynamic positioning (DP) system 1. The 5,000 dwt ABS-class PSV sold is 285 feet (87 meters) long and equipped with DP system 2.